BANKING & FINANCE - Feb. 9, 1993
From Times Staff and Wire Reports
Treasury Bill Rates Fall: The Treasury sold $11.6 billion of new three-month bills at an average discount rate of 2.94%, down from 2.97% last week. Another $11.6 billion of new six-month bills was sold at an average discount rate of 3.09%, down from 3.10% last week. The three-month bill rate was the lowest since they sold for 2.94% on Oct. 19. The six-month bill rate was the lowest since they averaged 3.09% on Jan. 25. The new discount rates understate the actual return to investors--3.00% for three-month bills with a $10,000 bill selling for $9,925.70 and 3.18% for a six-month bill selling for $9,843.80. The discount rate reflects the price discount received when government securities are purchased at less than face value.
